Recurring Deposit Account

 

  • Recurring Deposit for periods ranging from 12 months and above with fixed monthly remittance.
  • Monthly remittance amount may fixed by the depositor in the multiples of 5
  • No Income tax
  • Premature withdrawal permitted.
  • Loans on the basis of deposit is allowed.
  • Premature closure/withdrawal permitted.
  • Nomination facility available.
  • Ideal for all regular income group, Pensioners, Traders etc. simple way to save money with high rate of interest.
  • Deposit opened in the name of minors also.
  • Penalty is applicable for delayed remittance.